Welcome to our dedicated page for CMS Energy news (Ticker: CMS), a resource for investors and traders seeking the latest updates and insights on CMS Energy stock.
CMS Energy Corporation reports recurring developments across its Michigan energy business, with Consumers Energy as its principal utility subsidiary. Company news commonly covers earnings results and financial outlooks, common and preferred stock dividends, and updates tied to electric and natural gas service in Michigan.
Consumers Energy updates also include grid reliability, storm response technology, customer energy-efficiency and assistance programs, and regulatory discussions involving utility assets. CMS Energy also reports on its independent power generation businesses and capital-return actions involving listed common stock, preferred securities and depositary shares.
Consumers Energy has entered into an agreement with Jupiter Power to add 100 megawatts of battery storage, marking a significant step towards its goal of 550 megawatts of storage capacity by 2040. This initiative is part of Consumers Energy's Clean Energy Plan aimed at eliminating coal by 2025, achieving net-zero carbon emissions, and fulfilling 90% of energy needs through renewable sources like wind and solar. The new facility in Coldwater, developed with Jupiter Power, will complement existing storage systems in Michigan. Jupiter Power specializes in energy storage infrastructure and is developing over 11,000 MW of projects across the U.S.
Consumers Energy has appointed Angela D. Henderson as Vice President of Supply Chain, effective July 1. Angela joins from Ford Motor Co., where she held numerous leadership roles over 25 years, including positions in sourcing, purchasing, and strategic transformation. Her extensive experience includes managing global gas, autonomous, and electric vehicle programs, as well as diversity and sustainability initiatives. Angela holds a bachelor's degree in business, an MBA in Integrated Business Management, and a Graduate Certificate in Diversity Equity and Inclusion. Consumers Energy serves 6.8 million residents in Michigan.
Consumers Energy has provided tips to help Michigan residents stay cool and reduce energy bills during the state's first summer heatwave of 2024. Lauren Snyder, VP of Customer Experience, highlighted simple actions such as adjusting thermostats, using fans, and shifting energy use to off-peak hours. Consumers Energy is also giving away Google Nest thermostats to eligible households to further assist in energy savings. Additionally, resources are available for customers needing financial help with their energy bills. The company continues to meet the energy needs of nearly 2 million homes and businesses through a mix of natural gas, solar, wind, hydroelectric, and pumped storage power plants. Consumers Energy aims to eliminate coal by 2025 and achieve net-zero carbon emissions.
Consumers Energy recently released 24 young turtles, rescued during the Mid-Michigan Pipeline Project, back into their natural habitat. The release event involved children of Consumers Energy employees and highlights the company's commitment to sustainable construction practices. The turtles, from eggs of adult females relocated from the pipeline path, were incubated with help from Chelsea-based Herpetological Resource and Management (HRM) and Sea Life Michigan Aquarium. This project is part of Consumers Energy's broader efforts to protect wildlife and manage wetlands, which includes a $550 million pipeline replacement initiative expected to conclude this fall.
Consumers Energy has proposed a new Reliability Roadmap aimed at enhancing the electric grid's resilience and reliability. The plan includes burying 35 miles of power lines, upgrading infrastructure, and implementing grid automation. Additionally, a new wildfire risk mitigation strategy will include prioritized tree trimming and equipment upgrades. This proposal aims to reduce power outages and improve service reliability while supporting union jobs. The company will file the proposal with the Michigan Public Service Commission (MPSC) on Friday.
Consumers Energy celebrated the graduation of seven students from Jackson County Intermediate School District who completed the Project SEARCH program. This initiative helps students with developmental disabilities transition from school to the workplace by providing a year of hands-on training. These students, aged in their late teens, gained valuable work experience through job rotations at the company's various facilities. Angela Thompkins, Vice President of Community Affairs at Consumers Energy, emphasized the program's success and the hope it inspires for other employers to offer similar opportunities. Project SEARCH aims to secure competitive employment for people with disabilities and has been running in partnership with Consumers Energy for six years. The company plans to continue and expand the program, aiming to provide full-time jobs for some participants in the future.
Consumers Energy announced key leadership changes in its IT department. Tamara Faber, Chief Digital Officer, is leaving effective May 31. Her role will be split into two functions: strategy and operations. Jim Beechey is named Vice President, IT and Security, and Chief Information Officer as of Feb. 15. Aaron Rajda will join as Vice President, Applications and Analytics, and Chief Digital Officer on May 20. Beechey will focus on IT strategy, investments, and security, while Rajda will handle digital product delivery and customer experience. Consumers Energy serves 6.8 million residents in Michigan.
Consumers Energy is investing $24 million in smart technology to improve electric reliability, installing nearly 3,000 line sensors and over 100 automatic transfer reclosers. These cutting-edge technologies help prevent power outages, reduce outage size and duration, and have already prevented hundreds of thousands of outages. The company's Reliability Roadmap aims to restore power within 24 hours, serving close to 2 million Michigan homes and businesses.
CMS Energy Declares Quarterly Dividend on Cumulative Redeemable Perpetual Preferred Stock
The Board of Directors of CMS Energy has declared a dividend on the 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C, payable on July 15, 2024. The dividend is $0.2625 per depositary share. For more information on CMS Energy's dividend distributions and tax status, visit their website.
Consumers Energy, the principal subsidiary of CMS Energy, has declared a quarterly dividend on its preferred stock. The dividend of $1.125 per share on the $4.50 preferred stock (NYSE: CMS_pb) is payable on July 1, 2024, to shareholders of record on June 3, 2024. Consumers Energy is a Michigan-based energy provider, and for more information, visit cmsenergy.com.